His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan of Abu Dhabi witnessed the signing of an agreement where ADNOC will acquire a 35% equity stake in Exxon Mobil's proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas. This partnership signifies a substantial investment in the U.S. energy production and global energy transition, aiming to reduce greenhouse gas emissions in hard-to-decarbonize sectors. The facility is expected to be the world's largest of its kind upon startup, focusing on producing low-carbon hydrogen and ammonia using advanced carbon capture and storage technologies. The agreement highlights the importance of supportive government policies and regulatory permits for the project's success, with an anticipated final investment decision in 2025 and startup in 2029. Exxon Mobil and ADNOC express enthusiasm for the strategic partnership, emphasizing the project's advanced technology and market development acceleration. The collaboration aims to create U.S. jobs, support community development initiatives in Baytown and Texas, and deliver economic benefits to the region. ADNOC's Minister of Industry, Sultan Ahmed Al Jaber, views this investment as a crucial step in growing the portfolio of lower-carbon energy sources and meeting rising demand for sustainable fuels. Darren Woods, ExxonMobil's CEO, appreciates the support from Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, highlighting the project's importance in the global energy value chain. ADNOC plans to continue supporting community initiatives in Baytown, aligning with the company's commitment to sustainability and education in the areas where it operates. The collaboration between ADNOC and ExxonMobil reflects a shared vision for advancing low-carbon technologies, driving economic growth, and fostering social and economic advancements in the Baytown area. The project's commitment to sustainability and community development underlines the companies' dedication to achieving environmental and societal benefits beyond the production of low-carbon hydrogen and ammonia.